Public meetings

Key decisions

• MINUTESOFTHE MT LEBANON HOSPITAL AUTHORITY January 9,2025 TIME: 6P.M. LOCATION: St. Clair Health, Dunlap Family Outpatient Center - Board Room MEMBERSATTENDING: Keith Eliou, Esq. Jamie B. Lebo Christopher Reinard, Esq. Susan Gove Dr. Anita Srikameswaran ALSO PRESENT: Steve Silverman, Mt. Lebanon Commissioner MEMBERS ABSENT: Keith A. McGill ST. CLAIR MANAGEMENT ATTENDING: Eric J. Luttringer Donna M. Shipley Amy B. Bunger, PhD I. ELECTION OF OFFICERS The following individuals were presented for the offices indicated. The following terms of office expire on December 31,2025: • Chairperson Keith L. Eliou Esq. • Vice Chairperson Susan Gove • Treasurer Eric J. Luttringer • AssistantTreasurer Dr. Anita Srikameswaran • Secretary Jamie B. Lebo • Member Christopher Reinard, Esq. II. CALLTOORDER- KEITH ELIOU,CHAIR A motion was made to approve Officers of the Mt. Lebanon Hospital Authority (the Authority). ACTION: On motion duly made and seconded, the Officers of the Mt. Lebanon Hospital Authority were unanimously approved. PUBLIC COMMENTS Ms. Shipley reported that notice of the meeting was advertised in the Post-Gazette. A conference line phone number and an email address was provided so that the public could either call in or send comments regarding the Mt. Lebanon Hospital Authority (the Authority) meeting. III. APPROVALOF THE MINUTES OF SEPTEMBER 3,2024 Mt. Lebanon Hospital Authority January 9,2025 Page2of3 A motion was made to approve the minutes of the Ad Hoc meeting of Mt. Lebanon Hospital Authority as presented. ACTION: On motion duly made, seconded and unanimously carried, the minutes of the meeting of the September 3,2024 Mt. Lebanon Hospital Authority were approved as presented. IV. FINANCIAL REPORTS Ms. Shipley reviewed the June 30, 2024 audited financial report of the Authority, as prepared by Ernst & Young, which contained an unqualified (i.e. clean’) opinion as to the fair presentation of the statements. In reviewing the balance sheet, Ms. Shipley commented that the total assets of $110.2 million equal the total liabilities of the same amount. The assets are comprised of receivables from the Hospital to pay for the bonds and notes outstanding and related interest. Liabilities are composed of outstanding amounts payable on the Series 2010 Note, the Series 2017 Note, the Series 2018 Bonds, the Series 2021 Notes and accrued interest related to those obligations. It was also noted that total revenues for the year of $4.4 million equal total expense of the same amount. The footnotes to the financial statements include a description of the purpose of the Authority, a description of each outstanding indenture, and details on the timing of payments for principal and interest on the debt and related receivables. A motion was made to approve the June 30,2024 audited financial statements. ACTION: After review and discussion of the report and on motion duly made, seconded and unanimously carried, the Authority approved the audited financial report for Fiscal Year 2024 as submitted. Ms. Shipley also reviewed the report detailing expenses of $24,666 which the Hospital paid on behalf of the Authority for the period of January 2024 through December 2024. A motion was made to approve the 2024 expenditures. ACTION: After review and discussion of the report and on motion duly made, seconded and unanimously carried, the Authority approved the expenditures for 2024 as submitted. V. DEBT COVENANT COMPLIANCE AS OF JUNE 30,2024 Ms. Shipley noted the Hospital is in compliance with all bond and note covenants for the year ended June 30, 2024. Debt covenant compliance is audited by Ernst & Young during the annual financial audit. Ms. Shipley also referred the Committee members to copies of the full debt compliance schedule included in the Committee packet. VI. INDEPENDENTAUDITOR Mr. Luttringer commented that St. Clair Health Corporation anticipates utilization of E&Y to perform the St. Clair Health Corporation Fiscal Year 2025 consolidated audit. A motion was made to approve retaining Ernst & Young LLP as the auditors for Fiscal Year 2025. Discussion ensued. Mt. Lebanon Hospital Authority January 9,2025 Page3of3 ACTION: After discussion and upon motion duly made, seconded and unanimously carried, the Authority approved the selection of Ernst & Young LLP as auditors for the Fiscal Year 2025 audit, subject to the Hospital using the same firm. VII. ST. CLAI R HOSPITAL MANAGEMENT REPORT Mr. Luttringer discussed the current healthcare environment and St. Clair’s most recent bond ratings and rating trends by Standard & Poor’s and Fitch. St. Clair’s recent award and accolades were also reviewed with the Board. Dr. Bunger presented St. Clair’s expansion into undergraduate and graduate medical programs, including strategies and timelines. Mr. Luttringer also reviewed facility updates and expansions and St. Clair’s economic impact on the region. Discussion occurred throughout the presentation. VIII. QUARTERLY CONTINUING DISCLOSURES Ms. Shipley referenced the June 30,2024 St. Clair Hospital Continuing Disclosures which are included in the packet for the Board’s information. IX. OTHER BUSINESS No other business at this time X. NEXT ANNUAL MEETING DATE DISCUSSION - JANUARY 8,2026 (TENTATIVE) XI. ADJOURNMENT There being no further business to come before the Board, the meeting adjourned at 6:45 p.m. Stevland Sonnier Eric J. Luttringer, Sr. Vice President St CFO Secretary, MLHA SCH Treasurer, MLHA